Tim I have thought of this myself, except that I am no match for the long arm of the inland revenue so instead have decided that when I am ready I will just move offshore and then no can say anything. Nevertheless I would be interested to hear how you would proprose to trade once you have set up your IBC, and how you would repatriate your money to the UK. Please feel free to answer here or by private message because this is a topic I have been looking at for a while now
peugots - trading no problem, it's all on the Internet. You can trade just as easily from the UK with a US broker, so there's no difference. If you went on holiday to Singapore, you could still access and trade your account - where you are makes no difference at all.
Why repatriate your money to the UK? No need to at all. Your business account just happens to buy plane tickets, cars, books holidays, buys holiday villas etc, which are in that company's name. Where they are physically in the world, and being used by whom, is of no interest to anyone.
Just like company cars - you are the registered keeper, but that doesn't necessarily mean that you are the registered owner.
And if you have to go on holiday, BVI is a very nice place indeed. I can particularly recommend Long Bay on Tortola, Peter Island, and Anegada. :cheesy:
I would guess that an open forum is not the place to discuss these kind of tactics - you never know who is watching!
A couple of pointers though - you used to be able to set up BVI companies with bearer shares (don't know if this is still possible), this would be worth looking into.
You can repatriate your funds back to the UK in a number of ways, the obvious one is via bank transfer but this will obviously create an auditable paper trail so don't think you can get away with anything doing that. You can always set up a bank account in another jurisdiction and repatriate the money there - that account would have a credit/debit card connected to it and you can spend the cash from that account "wherever" you like (like skim was suggesting) - just be careful where the statements are sent and the destruction of credit card vouchers from the purchases made.
Can't offer any info on the trading aspect via an IBC, you will prob need to discuss that with the trading company you intend to use but I am sure they can "accommodate" (hint).
Can anyone help with the following question (1) If you leave the uk and live some where in euroland, do you still have to pay stamp duty @0.5% on uk share purchase's ?(2) does CGT apply if you don't live here, appologies if this subject has been covered before but I haven't been able to get an answer,
finally if anyone can recommend a good tax advisor,
Thank you in advance...........................
On the other hand trading CFDs will. CGT is a local tax for residents so if you're gone for long enough it doesn't bite (I understand Belgium is quite a good place to go too for avoiding existing potential CGT liabilities, if they're ones you're planning to incur I think you are fine in any low tax regime).
Fortunately (very), I will be moving to BVI for 3 years from December 2004 and will be trading (I hope) for a living. Perhaps this is an early post to this board, but I may be able to offer full guidance on the subject once in-situ.
New to T2W - excellent forum - caters for a great many levels (mine being relatively low with respect to trading).